FullNet Communications Inc (FULO) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of FullNet Communications Inc stock $0.64, price $0.35, upside +82.9%, quality 79 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $0.0031 – $0.9649 · fair‑value band $0.4800 – $0.9600 · the $0.3500 price screens below the $0.6400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 4, 2026.
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FullNet Communications, Inc., together with its subsidiaries, provides integrated communications services to individuals, businesses, organizations, educational institutions, and governmental agencies in the United States.
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It provides mass notification services using text messages and automated telephone calls; carrier-neutral equipment colocation services; Internet access services; web hosting and related services; customized live help desk outsourcing services; and voice and data solutions.
The company was formerly known as CEN-COM of Oklahoma, Inc. and changed its name to FullNet Communications, Inc. in December 1995. FullNet Communications, Inc. was incorporated in 1995 and is based in Oklahoma City, Oklahoma.
Stock analysis
FullNet Communications Inc (FULO) currently trades at $0.3500, while our model-based Fair Value estimate is $0.6400, implying the stock looks roughly 45% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $0.9700 per share, and 21 of the 26 models we run sit above the $0.3500 price.
Bear case: the Economic Profit group reads lowest at $0.3800, and 5 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: $0.4800 (bear) to $0.9600 (bull), the price of $0.3500 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 79/100 (high quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
FullNet Communications Inc reported revenue of $5.1M in FY2025 versus $4.1M in FY2021, a compound +5.4%/yr. Reported net income was $740K in FY2025, compounding −4.6%/yr from FY2021.
Key figures
Market cap $6.9M Micro · P/E ratio 17.5 · P/S ratio 2.53 · EPS (TTM) $0.0200 · Dividend yield 3.7% · Net margin 14.5% · Return on equity 35.2% · Return on assets (EBIT) 23.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (medium confidence).
What moves the price
The share trades about 35% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 51% fair-value upside, at 83%, FULO screens cheaper than that median.
Fair Value models
Bear$0.4800Fair Value $0.6400Bull$0.9600
Price $0.3500 · Upside +82.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.0060 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Start year 2020 (pandemic). Over 10 years: +10.5% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+7.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.0%
Dividend (yield on the price)3.7%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.21% → 16%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−21.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −23.7% a year for the price.
Compare FullNet Communications Inc with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 234 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score79 · Top 25%
Fair Value upside+82.9% · Top 25%
Profitability
Return on equity (12 months)35.2% · Top 25%
Return on assets20.1% · Top 25%
Net margin (12 months)12.7% · Above median
Operating margin (12 months)4.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)1.2% · Below median
Dividend yield (12 months)3.7% · Above median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
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Is FullNet Communications Inc (FULO) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $0.6400 versus a price of $0.3500, about +83% upside (undervalued).
What is the fair value of FULO?
Our model-based fair value for FullNet Communications Inc is $0.6400 (as of Nov 4, 2026), built from audited fundamentals. The current price: $0.3500.
What is the quality score of FULO?
FullNet Communications Inc has a Quality Score of 79/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for FullNet Communications Inc (FULO)?
Our model-based price target is the fair value of $0.6400 (as of Nov 4, 2026) from 26 valuation models. Cautious scenario $0.4800, optimistic scenario $0.9600. It is a calculation from audited fundamentals, not an analyst target.
What is the FullNet Communications Inc stock forecast for 2026?
Our models put fair value at $0.6400, about +83% upside versus a price of $0.3500 (undervalued). Cautious scenario $0.4800, optimistic scenario $0.9600. The calculation is refreshed regularly with new filings.
What is the revenue of FullNet Communications Inc (FULO)?
FullNet Communications Inc reported trailing-twelve-month revenue of about $4.2M (latest available figure, as of Nov 4, 2026).
Does FullNet Communications Inc pay a dividend?
FullNet Communications Inc currently shows a dividend yield of 3.71% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of FullNet Communications Inc (FULO) and when is the ex-dividend date?
FullNet Communications Inc pays a dividend of $0.013 per share a year, a dividend yield of 3.7%. The last ex-dividend date was Aug 31, 2026. A dividend has been paid every year since at least 2022. The payout ratio is 65.0% of earnings. Free cash flow covers the dividend 3.79 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into FullNet Communications Inc (FULO)?
For today's price to be fair in a discounted-cash-flow model, FullNet Communications Inc would have to grow free cash flow by -21.9 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of FULO use?
Our models discount FullNet Communications Inc at 8.8 %: a base by market capitalisation (nano), damped by beta 0.62, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For FullNet Communications Inc that is -21.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has FullNet Communications Inc (FULO) delivered so far?
Over the past 5 years revenue at FullNet Communications Inc grew +7.8 % a year. The price currently implies free-cash-flow growth of -21.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of FullNet Communications Inc (FULO) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into FullNet Communications Inc (-21.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of FullNet Communications Inc (FULO)?
The free-cash-flow yield on the price is 14.03 %: that much free cash flow FullNet Communications Inc produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of FullNet Communications Inc (FULO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FullNet Communications Inc it is $0.6400 per share (as of Nov 4, 2026), against a price of $0.3500. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is FullNet Communications Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, FULO trades below its calculated fair value: price $0.3500, fair value $0.6400, a gap of about +83% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FULO?
No. The price is what the market pays today ($0.3500); the fair value is what the company's own numbers justify ($0.6400). For FullNet Communications Inc the two are $0.2900 per share apart. That gap is exactly why we show both numbers side by side.
How much is FullNet Communications Inc worth?
The market values FullNet Communications Inc at about $6.9M (market capitalisation, as of Nov 4, 2026). Per share that is $0.3500; our models calculate a fair value of $0.6400 per share.
What do the bullish and bearish scenarios say about FULO?
Our models span a range for FullNet Communications Inc: cautious scenario $0.4800, base $0.6400, optimistic $0.9600 per share (as of Nov 4, 2026, price $0.3500). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FULO?
FullNet Communications Inc trades at a price-to-earnings ratio of 17.5 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.6400 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings, FY2023 ex one-offs: 10.0. Other multiples: P/B 4.5, P/S 1.6, EV/EBITDA 7.0.
How solid is the balance sheet of FullNet Communications Inc (FULO)?
Balance-sheet figures for FullNet Communications Inc (as of Nov 4, 2026): return on equity 35.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 79/100, which measures business quality independently of the share price.
How far is FULO from its 52-week high?
FullNet Communications Inc trades at $0.3500, about 35% below its 52-week high of $0.5364 and 9% above the low of $0.3200 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $0.6400 is for.
Which stocks are comparable to FullNet Communications Inc?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is FullNet Communications Inc stock attractive at the current price?
The data as of Nov 4, 2026: price $0.3500, calculated fair value $0.6400 (+83%), Quality Score 79/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FULO calculated?
We run FullNet Communications Inc through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $0.6400 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. FullNet Communications Inc currently trades 45% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of FullNet Communications Inc (FULO)?
The closing price on Nov 6, 2026 was $0.3500. Our model-based fair value is $0.6400, about +83% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FullNet Communications Inc right now?
The rarer combination: high quality (79/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($0.4800). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.4800 to $0.9600) leaves room in how you read the outcome.
Key figures of FullNet Communications Inc
How large is the market capitalisation of FullNet Communications Inc (FULO)?
The market capitalisation of FullNet Communications Inc is $6.9M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of FullNet Communications Inc (FULO)?
The price-to-sales ratio of FullNet Communications Inc is 2.53 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of FullNet Communications Inc (FULO)?
Earnings per share at FullNet Communications Inc are $0.0200 (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FullNet Communications Inc (FULO)?
The dividend yield of FullNet Communications Inc is 3.7% (payout 65.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of FullNet Communications Inc (FULO)?
The net margin of FullNet Communications Inc is 14.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of FullNet Communications Inc (FULO)?
The return on equity (ROE) of FullNet Communications Inc is 35.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of FullNet Communications Inc (FULO)?
On an EBIT basis the return on assets of FullNet Communications Inc is 23.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of FullNet Communications Inc (FULO)?
The operating margin of FullNet Communications Inc is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FullNet Communications Inc (FULO)?
Revenue at FullNet Communications Inc is growing +1.2% versus a year earlier (3y avg +6.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at FullNet Communications Inc (FULO)?
Earnings per share at FullNet Communications Inc are growing +941% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does FullNet Communications Inc (FULO) hold?
FullNet Communications Inc holds more cash than debt, $2.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 4, 2026